Glassnode says Bitcoin needs recovery against indices to break current market cycle
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3 Articles
Bitcoin Recovery Stalls as Buyers Stay Away and Leverage Builds
Bitcoin sellers are easing off, but buyers still lack the strength to drive a rebound. Leverage traders are betting on higher prices despite weak spot market demand. Bitcoin faces key levels at $58,500 and $68,700 as traders await direction. Bitcoin’s recovery faces a key hurdle: buyers have yet to return in force, even as leveraged traders position for higher prices. On-chain data firm Glassnode said selling pressure is losing momentum, but fre…
Bitcoin slows down around $64,000: Glassnode detects a shortness of breath of sellers, but the market is still waiting for the decisive signal. Bitcoin article: Glassnode detects a shortness of breath of sellers around $64,000 appeared first on Cointribune.
Glassnode says Bitcoin needs recovery against indices to break current market cycle
Bitcoin is steeply lagging behind equities, and until it begins to regain strength, the current market will remain dominated by stocks, according to Glassnode. Over the past 90 days, Bitcoin has dropped by 20%, four times as much as the S&P 500, which rose by 5% in the same period. Looking further back, the crypto market has performed the worst among major asset classes so far this year. Bitcoin is down 35%, and altcoins are down 57% since Janu…
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